Line of Credit Loan
Variable rate
Why choose a Line of Credit Loan?
No set repayments
Make payments as required to keep the balance under-limit.
Access to funds
Easily access funds using your Visa Debit card, the BCU Bank app or internet banking.
Pay for what you use
Only pay interest on the amount you use – not your whole limit.
No ongoing fees
No ongoing monthly loan maintenance fees.
The home loan features don't stop there
- Competitive variable interest rate.
- No ongoing monthly or annual fees.
- Borrow up to 80% of the property value.
- Make payments of as much or as little as you like – as long as the balance remains under the credit limit.
- Interest is only charged on the amount you draw from your line of credit.
Rates and fees
The basics
| Loan purpose | Owner occupier |
| Minimum loan amount | $20,000 |
Interest rates
| Loan to Value Ratio (LVR) | Variable rate |
Comparison rate*
|
|---|---|---|
| Up to 80% | 7.74% p.a. | N/A |
| Fee type | |
|---|---|
| Monthly fee | $0.00 |
| Annual fee | $0.00 |
| Document preparation fee | $300.00 |
Other fees & charges that apply to all of our accounts can be found on our fees and charges page.
How much could you borrow?
Use our handy home loan borrowing power calculator to get an idea of much you could potentially borrow. We’ll just need the basics about what you earn, spend, and owe, and we’ll figure out the rest.
Home loan borrowing power calculator
More calculators
Ready to apply for a home loan?
It’s easy to get started with a BCU Bank home loan. Choose the way that suits you:
- In your nearest branch – remember to bring all your ID and supporting documents with you.
- Over the phone – call us on 1300 228 228 and one of our friendly consultants will help you with your home loan application.
- At home or at work – our mobile lending team can meet at a time and place that suits you, or we can set up a video call.
A little preparation can make your home loan application quicker and easier. Make sure you have the following ready:
- Identity documents
- primary photo ID (e.g. passport or driver licence), or
- primary ID without a photo (e.g. birth certificate or citizenship certificate) and a secondary ID (e.g. utility bill with your name and address on it).
- Employment details – contact details of your current and previous employer (if current is less than two years).
- Income details – payslips or, if you're self-employed, tax assessments for the last two years, and financial statements.
- Regular expenses – such as rent, food, electricity, insurance, telcos, and medical costs.
- Assets – a rundown of any assets that you own (any cars, savings accounts, home contents, properties, investments).
- Liabilities – the details of any loans, credit cards, buy now pay later, or other debts you have.
Got everything ready? Book an appointment with one of our home loan specialists today.
Request an appointmentIt’s easy to get started with a BCU Bank home loan. Choose the way that suits you:
- In your nearest branch – remember to bring all your ID and supporting documents with you.
- Over the phone – call us on 1300 228 228 and one of our friendly consultants will help you with your home loan application.
- At home or at work – our mobile lending team can meet at a time and place that suits you, or we can set up a video call.
A little preparation can make your home loan application quicker and easier. Make sure you have the following ready:
- Identity documents
- primary photo ID (e.g. passport or driver licence), or
- primary ID without a photo (e.g. birth certificate or citizenship certificate) and a secondary ID (e.g. utility bill with your name and address on it).
- Employment details – contact details of your current and previous employer (if current is less than two years).
- Income details – payslips or, if you're self-employed, tax assessments for the last two years, and financial statements.
- Regular expenses – such as rent, food, electricity, insurance, telcos, and medical costs.
- Assets – a rundown of any assets that you own (any cars, savings accounts, home contents, properties, investments).
- Liabilities – the details of any loans, credit cards, buy now pay later, or other debts you have.
Got everything ready? Book an appointment with one of our home loan specialists today.
Request an appointmentBecause we're here to help
We'll call you
Drop us your details and one of our home loan specialists will be in touch.
Talk to the team
Got a question? Call us on 1300 228 228, pop into your local branch, or chat to us online.
We’ll come to you
We know your time is precious, so our home lenders will come to you on your terms.
Got a question about home loans?
A home loan line of credit is a flexible way to access the equity you've built up in your home. It allows you to borrow money up to a set amount and then withdraw and/or repay that money as you want. You can withdraw a lump sum or make smaller withdrawals over a period of time.
With a home loan line of credit you don't need to make regular repayments during the term of the loan. You can deposit and withdraw money as you need to.
If you don’t make interest payments, you'll need to remember that your interest will capitalise. That means you’ll reach your credit limit sooner than if you had been making repayments.
Important information
Banking and Credit products issued by Police & Nurses Limited (BCU Bank).
Any information on this website is general in nature and does not consider your personal needs, objectives or financial situation. Our rates are current as of today and can change at any time. Credit eligibility criteria, terms and conditions, fees and charges apply.
Please consider the terms and conditions and whether a product is right for you.
- View terms and conditions
- View fees and charges
- View Credit Guide
- Create a Home Loan Key Fact Sheet
- View LMI Information Fact Sheet
- View Target Market Determinations (TMDs)